Mr. Gulam Zia, Executive Director– Valuation & Advisory, Retail & Hospitality, Knight Frank India said, “This is a landmark verdict that will yet again establish the rule of law beyond doubt, and comfort the poor homebuyers facing a prolonged battle against errant developers. On the side of execution, the NBCC has been roped in to do the completion at the rate of 8%, which is a great bargain on the side of the buyers. It is a time-bound completion plan that offers the buyers something they were looking for a long time. The verdict of the Supreme Court will serve as a deterrent for other possible defaulters. However, the order can’t be taken as a template for all such resolutions since each of these cases would have issues like cost, pending collections from homebuyers, and government charges. The verdict is in favor of the buyers, and it is the right thing as now it”.
Corporate Comm India (CCI Newswire)
